Re:SoftBank’s WeWork Bailout Draws Investor Concern
by harryh on Saturday October 26, 2019 @02:28PM
(#21365343)
I think you misunderstand the potential scope of WeWork's business. A third of WeWork's desks are rented by companies with 1,0000+ people. IBM, Microsoft, and a big chunk of the Fortune 500 are all customers.
Re:SoftBank’s WeWork Bailout Draws Investor Concern
by throwaway69173 on Saturday October 26, 2019 @02:31PM
(#21365361)
In short, yes. Some companies also feel it’s a good idea to house their tech workers in a cooler trendy wework unlike the rest of their employees. But the price is pretty key. At reasonable prices for what they’re offering, quantity demanded would probably go down
Re:SoftBank’s WeWork Bailout Draws Investor Concern
by skookum on Saturday October 26, 2019 @03:15PM
(#21365594)
I don't think cooler/trendier is the reason major companies with established long-term offices use WeWork. I spent a few months in a WeWork office - which was more uncomfortable than it was cool or trendy - as an employee of such a company and the reason was mundane: needing temporary space for a subset of the workforce during an office remodel. I'd wager for most big name clients the draw is the short-term/low-commitment nature of the offering rather than cooler trendiness of Class C office space that's been tarted up with a thin layer of Silicon Valley chic.
I can see renting out some space for an afternoon, a full day, or even up to a week if you're needing to meet with clients, but WeWork seems to be banking on very small teams that have no where else to work. Their spaces look nice but again unless you're really meeting with clients it seems like office space like they provide is largely a waste of money.
Obviously there's something I'm missing because Softbank feels different.